Sintercom India Limited News Today : Breaking News, Live Updates & Top Stories | Vimarsana

Mumbai (Maharashtra) [India], March 5 (ANI/PRNewswire): Sintercom India Limited (Company), a Pune-based company, has announced that it has completed the raising of funds on a preferential private placement basis in the form of equity shares and compulsory convertible debentures (CCDs) from one of its promoters Miba Sinter Holding GmbH & CO KG (Miba), for an aggregate amount of approximately Rs 222 million, after taking the necessary approvals from the Board, shareholders and other regulatory bodies. The proceeds of the preferential issue will be used to help facilitate the Company with additional funds necessary for acquisition of capital goods and machinery, operation and management of the Company with approximately Rs 90 million earmarked towards acquisition of capital machinery.

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